The USD Index was going down nonstop until late-January 2018 when the U.S. stock market started to fall. The USD has managed to make a bear market consolidation because the U.S. stock market is making a correction.

This also means that the USD Index should break down when the S&P 500’s correction is over.

I think the S&P 500 will make a marginal new low before its correction is over. This means that the USD still has some room to bounce in the short term before it resumes its bear market.

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